Ultra low cost to stablecoins
To further enhance the trading experience for all users, Binance Convert is providing even better rates to convert for selected stablecoin pairs, without any trading fees, as always. The quotation prices among USDT, BUSD and USDC stablecoin pairs have been improved. Using Binance Convert to convert one of these three stablecoins to another will give users one of the most competitive pricings in the market. The cost-saving effect is more significant for users who are trading with large order sizes – since the larger the order, the more cost is saved.
Why is this feature necessary? Stablecoins are cryptocurrencies whose value is fixed to another asset, often a fiat currency or commodity. These stablecoins are designed to track the value of the underlying asset and maintain a fixed ratio to this asset. However, since stablecoins are also subject to the buying and selling forces of the market, their prices are not always strictly 1 USD (in the case of dollar-pegged stablecoins), but rather float around the target value, often deviating from it by several basis points. Using Binance Convert will always provide users with a quote that is close to 1, and with no trading fees.
Try out Binance Convert now:
https://www.binance.com/en/convert
How to use Convert?
Any Binance user can access Binance Convert from the [Trade] dropdown within the navigation bar in the Binance.com homepage or here. The interface will look like this:
Users can select the stablecoin that they wish to convert from and the respective stablecoin they want to convert to from the dropdown list. Following this, users enter either the amount of tokens they wish to convert from or the amount of tokens they wish to convert to (within their available assets), and click on [Preview Conversion] to start a quote. Quotes are valid and fixed for a specified time indicated by the countdown timer. To confirm the conversion, simply click on [Convert] and the conversion will be executed at the fixed price shown. If the countdown expires and no action is taken, users can refresh the price quotation anytime.